BBC News: The UK’s big five mobile phone firms have switched on a payment system that turns handsets into digital wallets. Called PayForIt, the scheme is designed for those buying goods and services with a value of up to £10.
The industry hopes it will be used to pay for ringtones, train tickets, parking fees and eventually as a payment system on web shops and sites. Any cash spent via the scheme will automatically be added on to a customer’s phone bill. The scheme standardises the way phones can be used to make payments so the process is the same no matter which operator a customer has signed up for or which handset they are using.
Mobiles to become digital wallets [BBC News]
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